3S HOLDING AS: årsregnskap 2020 vs 2019
Shrank 7% on revenue, stronger earnings, cash halved-plus
approved 2021-08-30; registry 2021-10-13; journal 2021 814879
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 3S HOLDING AS. Revenue 2.85m NOK → 2.66m NOK (-6.7%). Net result +189.4k NOK → +701.0k NOK. Equity 8.90m NOK → 9.60m NOK.
On the constructive side: operating result improved; net result improved; equity strengthened. Pressures included: revenue fell; cash fell; payroll up without matching revenue.
Also worth watching: sharp cash drawdown; cogs fell; book investments changed. All figures are taken from the published annual accounts for 3S HOLDING AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +155.3k NOK → +441.3k NOK (op. margin 5.5% → 16.6%). Calculated
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Net result improved
Net result +189.4k NOK → +701.0k NOK (net margin 6.7% → 26.4%). Calculated
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Equity strengthened
Book equity 8.90m NOK → 9.60m NOK (equity ratio 32.0% → 40.1%). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 2.85m NOK to 2.66m NOK (-6.7% YoY). Calculated
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Cash fell
Bank deposits 2.10m NOK → 82.9k NOK (-96.1% YoY). Calculated
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Payroll up without matching revenue
Salary cost 2.25m NOK → 16.40m NOK (79% → 617% of revenue). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (2.10m NOK → 82.9k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS fell
COGS / varekostnad 57.25m NOK → 1.93m NOK (-96.6% YoY). Calculated
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Book investments changed
Investment / intangible book value 13.08m NOK → 13.77m NOK. Reported fact